2105 Martin Luther King Jr Blvd Panama City, FL 32405
- Commercial land
- 4,764 SF
- 0.98 lot acres
Current Use by Public Records
- Commercial land
Property Details for 2105 Martin Luther King Jr Blvd
- Year built
- 1981
- Construction
- WOOD FRAME
- Lot size
- 0.98 lot acres
- Property size
- 4,764 SF
- Zone code
- PC09
- Property type
- Commercial land
- APN
- 14412-010-000
- APU
- 14412010000
Description
This exceptional 1.01-acre commercial land parcel presents a remarkable opportunity for retail or restaurant development in Panama City, Florida. Situated at 2105 Martin Luther King Jr Blvd, this single-tenant property boasts a highly desirable location within a thriving retail corridor, enjoying excellent visibility and accessibility along a major thoroughfare with an impressive 22,500 AADT. The property's COM zoning allows for a variety of uses, making it ideal for a quick-service restaurant (QSR), retail establishment, or other similar ventures. Its strategic placement near the intersection of E 23rd St and Martin Luther King Jr Blvd (58,000 AADT) places it within the core retail trade area of Panama City, benefiting from significant traffic volume. The site enjoys proximity to a major 200,000 square foot shopping center (Bay City Point) and is directly across from the Panama City Mall, ensuring high foot traffic and brand recognition. The property's adjacency to established national retailers and restaurants, including Target, Home Depot, Best Buy, Lowe's, and numerous popular dining options, further enhances its appeal and potential. The owner is actively pursuing cross-access with the adjacent shopping center, promising even greater convenience and synergy. This location's strong demographics and high traffic counts have attracted numerous national brands, underscoring the area's robust economic vitality and growth potential. The property's APN is 14412-010-000, located in Bay County, Florida, zip code 32405. This is a ground lease or build-to-suit opportunity not to be missed.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $540,000
- ML approach
- $505,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $805,000
- 6.5%
- $740,000
- 7%
- $690,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $899,000
Market price range: $248k - $903k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $695,000 Current use
- OFFICE BUILDING
- $1,015,000 Change: +46% Conversion: Easy
- RETAIL STORES
- $735,000 Change: +6% Conversion: Easy
- MEDICAL BUILDING
- $600,000 Change: -13% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Bay
- State
- Florida
- Longitude
- -85.6507
- Latitude
- 30.1862
- CBSA code
- 37460
- CBSA name
- PANAMA CITY-LYNN HAVEN, FL METROPOLITAN STATISTICAL AREA
